Reply #26: Who was at Fannie Mae ... Tom Donilon's Revolving Door [View All]

[slipslidingaway]

http://abcnews.go.com/Blotter/national-security-advisor-tom-donilon/story?id=11836229

"President Obama's new National Security Advisor spent the decade prior to joining the White House as a legal advisor to powerful interests including Goldman Sachs and Citigroup, and as a lobbyist for Fannie Mae, where he oversaw the mortgage giant's aggressive campaign to undermine the credibility of a probe into its accounting irregularities, according to government reports and public disclosure forms...

After a stint at the law firm O'Melveny & Myers, where Donilon was registered as a lobbyist for Fannie Mae, he took on full-time work with the mortgage giant as executive vice president for law and policy. Donilon's name appears on Fannie Mae's public lobbying disclosure reports between 2000 and 2005...

Donilon's tactics reportedly included attacks on the agency responsible for policing Fannie Mae's operations, the Office of Federal Housing Enterprise Oversight, and an attempt to launch a separate investigation into OFHEO itself, according to a 2006 government report about Fannie Mae. Those efforts were ultimately unsuccessful, and regulators eventually discovered top Fannie Mae executives had been manipulating the company's financial reporting to maximize their bonuses..."